Standard Chartered Bank Announces Credit of Second Interim Cash Dividend for 2024

Karachi: Standard Chartered Bank (Pakistan) Limited has credited a 20% second interim cash dividend for the fiscal year ending December 31, 2024. This distribution, amounting to Rs. 2 per share, was processed on September 20, 2024, directly into the bank accounts of shareholders who provided valid International Bank Account Numbers (IBAN).

The dividend credit follows the decision approved by the bank’s Board of Directors during their 111th meeting on August 26, 2024. According to information available from the Pakistan Stock Exchange (PSX), the disbursement adheres to Section 242 of the Companies Act, 2017, and the Companies (Distribution of Dividends) Regulations, 2017.

However, the bank withheld dividends from shareholders who either submitted incorrect or incomplete bank account details or did not provide their bank details, including a valid IBAN. Standard Chartered has urged these shareholders to contact the bank’s Share Registrar or engage with Broker/Participant/Investor Account Services of the Central Depository Company of Pakistan Limited (CDCPL) to update their details and receive their dividends.

Furthermore, the CDCPL has developed the Centralized Cash Dividend Register (CCDR), an e-Services web portal. This platform will maintain a history of dividends paid, unpaid, or withheld by listed companies. It will also provide shareholders with access to detailed records, including deductions for Income Tax or Zakat and the net amount credited.

Notices regarding this dividend payment will be published in the “Business Recorder” and “Express Urdu” on September 21, 2024, ensuring shareholders are informed of the developments and compliance measures in place.

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